1

Mapletree Logistics Trust Management Ltd.

10 Pasir Panjang Road, #13-01 Mapletree Business City, Singapore 117438

tel 65 6377 6111 fax 65 6273 2753

Co. Reg. No. 200500947N

For Immediate Release

MAPLETREE LOGISTICS TRUST EXPANDS PRESENCE IN

VIETNAM WITH LATEST ACQUISITION

Singapore, 1 November 2018 – Mapletree Logistics Trust Management Ltd. (“MLTM”), as Manager

of Mapletree Logistics Trust (“MLT”), wishes to announce that a conditional asset transfer

agreement has been entered into with Unilever International Company Limited (“Unilever Vietnam”)

to acquire a warehouse in Vietnam-Singapore Industrial Park I, Binh Duong province, Vietnam (the

“Property”) for a purchase consideration of VND725.1 billion (~S$43.0 million1) (the “Acquisition”).

Upon completion of the Acquisition, the Property will be leased to Unilever Vietnam for 10 years.

Commenting on the Acquisition, Ms Ng Kiat, Chief Executive Officer of MLTM, said, “We are

pleased to welcome Unilever, a global leader in fast moving consumer products, to our tenant

network. The addition of this well-located Grade A facility, our fourth property in Vietnam, will also

enhance our ability to tap the rising demand for quality logistics facilities in one of the fastest

growing markets with strong domestic consumption.”

Rationale for the Acquisition

1) Strategic location and excellent connectivity

Located in Vietnam’s Southern Key Economic Region, Binh Duong province is the largest

logistics hub in southern Vietnam accounting for over half of its total supply. The province is a

thriving manufacturing hub that has attracted many multinational corporations from Europe, the

United States of America and Asia. The strong growth in industrial activities has supported the

demand for modern warehousing facilities.

The Property is located in Vietnam-Singapore Industrial Park I (“VSIP I”), Binh Duong, a prime

warehouse area that is approximately 17 km or 40 minutes’ drive from Ho Chi Minh City.

1 Based on exchange rate of S$1 = VND 16,874

2

Mapletree Logistics Trust Management Ltd.

10 Pasir Panjang Road, #13-01 Mapletree Business City, Singapore 117438

tel 65 6377 6111 fax 65 6273 2753

Co. Reg. No. 200500947N

Warehouses in this location are highly sought after by both third-party logistics providers and

end-users for last mile delivery. With easy connectivity to other parts of the country via major

highways such as Highway 13 and Highway 14, VSIP I also serves as a major distribution hub

for the region. With its Grade A specifications and easy access to the major transportation

infrastructure, the Property is well-positioned to support tenants with local distribution

requirements or export oriented operations.

Upon completion of this Acquisition, MLT will have a total of four properties in Vietnam,

comprising three in southern Vietnam and one in northern Vietnam.

2) Quality logistics facility

The Property is designed with Grade A building specifications including minimum clear height of

10 metres and floor loading capacity of 30kN/sqm, which are in line with the international

standards and requirements of logistics and warehousing operators. Comprising three

connected blocks of single-storey warehouses, the Property has a gross floor area of about

66,800 sqm and land area of 101,200 sqm.

3) 10-year lease to quality tenant Unilever

Unilever, a global multinational and leading supplier of food, home, and personal care products,

is one of the most successful foreign investors in Vietnam. Most of their brands are familiar

household names among the fast-growing local middle class. With the Property being 100%-

leased to Unilever Vietnam for the next 10 years with annual rent escalations, it will provide

MLT with a stable and growing income stream backed by a strong quality tenant.

The Acquisition is expected to generate an initial NPI yield of 8.3%. It is also expected to be

accretive at the distribution level. An acquisition fee of approximately VND7.3 billion (~S$0.4 million),

being 1% of the purchase consideration of VND725.1 billion, will be payable to the Manager.

The Property has been valued at VND730.0 billion by Cushman & Wakefield as at 18 May 2018

based on the income capitalisation and direct comparison methods.

3

Mapletree Logistics Trust Management Ltd.

10 Pasir Panjang Road, #13-01 Mapletree Business City, Singapore 117438

tel 65 6377 6111 fax 65 6273 2753

Co. Reg. No. 200500947N

The Acquisition will be funded by debt and is expected to be completed by 4Q FY18/19, subject to

fulfilment of the relevant conditions precedent, which include the issuance of a new land use right

certificate to Mapletree First Warehouse (Vietnam) Co., Ltd. (as transferee). Upon completion,

MLT’s aggregate leverage ratio will be approximately 38.9% 2 , while MLT’s total portfolio will

comprise 140 properties with a book value of approximately $7.7 billion2.

= END =

About Mapletree Logistics Trust (www.mapletreelogisticstrust.com)

MLT, the first Asia-focused logistics REIT in Singapore, was listed on the SGX-ST Mainboard on 28

July 2005. MLT’s principal strategy is to invest in a diversified portfolio of income-producing logistics

real estate and real estate-related assets. As at 18 October 2018, it has a portfolio of 138 logistics

assets in Singapore, Hong Kong, Japan, China, South Korea, Australia, Malaysia and Vietnam, with

a total book value of S$7.6 billion. MLT is managed by Mapletree Logistics Trust Management Ltd.,

a wholly-owned subsidiary of Mapletree Investments Pte Ltd.

For enquiries, please contact: Ms Lum Yuen May Vice President, Investor Relations Tel: +65 6659 3671 Email: lum.yuenmay@mapletree.com.sg

Important Notice

The value of units in MLT (“Units”) and the income from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of MLT is not necessarily indicative of its future performance. This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representatives examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events.

2 Based on MLT’s financials as at 30 September 2018 and taking into account the divestment of 531 Bukit Batok Street 23,

Singapore completed on 18 October 2018 and the proposed acquisition of a logistics property in Brisbane, Australia announced on 26 October 2018.

Proposed Acquisition of

Logistics Property in

Binh Duong, Vietnam

1 November 2018

1

Overview of Property

Project Details

Purchase

Price

VND 725.1 billion

(~S$43.0 million)1

Valuation VND 730.0 billion2

Balance

Land

Tenure

Approximately 28 years

Land

Area

~101,200 sqm

GFA ~66,800 sqm

Vendor Unilever Vietnam International Company Limited

Tenant Unilever Vietnam International Company Limited

Lease

Term

10 years with annual rent

escalations

Footnotes:

1. Based on exchange rate of S$1 = VND 16,874

2. Valued by Cushman & Wakefield as at 18 May 2018 based on the income capitalisation and direct comparison methods.

The Property comprises three connected blocks

of single-storey warehouses, spanning a gross

floor area of about 66,800 sqm and land area of

101,200 sqm. It is located in Vietnam-Singapore

Industrial Park I (“VSIP I”), Binh Duong, a prime

warehouse area.

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Strategic Location in Vietnam

Image source: Prosquare

Property is located in

Vietnam-Singapore

Industrial Park I, Binh

Duong province,

Vietnam

• VSIP I is a prime warehouse area

that is ~17km or 40 minutes’ drive

from Ho Chi Minh City

• Easy connectivity to other parts of

the country via major highways such

as Highway 13 and 14

• Good specifications and easy access

to major transportation infrastructure

-> well-positioned to support tenants

with local distribution requirements or

export oriented operations

40 mins

drive

Long

Thanh

Airport

Strategic location and excellent connectivity in Binh Duong

Binh Duong is the largest logistics hub in the southern part of Vietnam and a thriving

manufacturing hub which has attracted many MNCs from Europe, the United States

and Asia

Strong growth in industrial activities in Binh Duong supports demand for modern

warehousing facilities

Located in VSIP I, a major distribution hub for the region, which is highly sought after

by third-party logistics providers and end-users for last mile delivery

Quality logistics facility

Grade A building specifications including minimum clear height of 10 metres and

floor loading capacity of up to 30kN/sqm

In line with the international standards and requirements of logistics and

warehousing operators

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Investment Rationale

10-year lease to quality tenant Unilever

Property will be 100%-leased to Unilever Vietnam for the next 10 years with

annual rent escalations

Unilever, a global multinational and leading supplier of food, home, and

personal care products, is one of the most successful foreign investors in

Vietnam

Provides stable and growing income stream backed by strong quality tenant

Acquisition is expected to be accretive with initial NPI yield of 8.3%

The Acquisition will be funded by debt and is expected to be completed by 4Q

FY18/19

Post-acquisition aggregate leverage is expected to be approximately 38.9%1

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Investment Rationale

Footnote:

1. Based on MLT’s financials as at 30 September 2018 and taking into account the divestment of 531 Bukit Batok

Street 23, Singapore completed on 18 October 2018 and the proposed acquisition of a logistics property in

Brisbane, Australia announced on 26 October 2018.

Impact on Portfolio

Gross Revenue contribution from MLT’s top 10 customers remains at ~28% post-acquisition

6

Top 10 Customer Profile (by Gross Revenue)

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Footnote:

1) Based on portfolio of 139 properties as at 30 September 2018 (inclusive of MLT’s 50% interest in 11 properties in China).

.

1

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Enlarged

Portfolio

Existing

Portfolio1 Valuation by

Geography

Gross

Revenue by

Geography

Existing

Portfolio1

Enlarged

Portfolio

Geographical Diversification

Footnote:

1) Based on portfolio of 139 properties as at 30 September 2018 (inclusive of MLT’s 50% interest in 11 properties in China).

.

Lease Expiry Profile (by NLA)

8

Weighted average lease expiry (by NLA) increases by 0.1 to 3.9 years

Existing Portfolio1

Enlarged Portfolio

Footnote:

1) Based on portfolio of 139 properties as at 30 September 2018 (inclusive of MLT’s 50% interest in 11 properties in China).

.

Remaining Years to Expiry of Underlying Land Lease (by NLA)

9

Weighted average lease term to expiry of underlying leasehold land

(excluding freehold land) is 44 years

Footnote:

1) Based on portfolio of 139 properties as at 30 September 2018 (inclusive of MLT’s 50% interest in 11 properties in China).

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Disclaimer

The value of units in Mapletree Logistics Trust (“MLT”, and units in MLT, “Units”) and the income from them may fall as well as rise. Units are not obligations of, deposits in, or guaranteed by, the Manager or any of its affiliates. An investment in Units is subject to investment risks, including the possible loss of the principal amount invested. Investors have no right to request the Manager to redeem their Units while the Units are listed. It is intended that Unitholders may only deal in their Units through trading on the SGX-ST. Listing of the Units on the SGX-ST does not guarantee a liquid market for the Units. The past performance of MLT is not necessarily indicative of its future performance.

This release may contain forward-looking statements that involve risks and uncertainties. Actual future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representatives examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from similar developments, shifts in expected levels of property rental income, changes in operating expenses, including employee wages, benefits and training, property expenses and governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. In addition, any discrepancies in the tables, graphs and charts between the listed amounts and totals thereof are due to rounding. Figures shown as totals in tables, graphs and charts may not be an arithmetic aggregation of the figures that precede them. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management on future events.